AUSTRALIAN WEEKLY MARKET REPORT

Comment

It was another stellar performance for the Australian auction this week. There was no Fremantle sale which reduced the national volume to around 36,000 bales. All types and descriptions were dearer with buyers competing to meet the current prompt demand for greasy wool. There was a push by some Chinese indent operators on Wednesday as they were unable to buy from local traders. What is very pleasing for us is the current market for fine and superfine wool. We at the Schneider Group have held a long-term interest and friendship with many superfine wool producers, and in particular the Australian Superfine Wool Growers Association. We understand the difficulties they have faced over many years with an obvious overproduction of superfine wool in recent times. We couldn’t be more pleased to see the current trend which is rewarding these producers for their quality and effort.

AWEX Eastern Indicator compared with 4/06/2021

Eastern Indicator

Close: 1393

Change in % +3.72

If you want to learn more about AWEX indicators, visit the official website http://www.awex.com.au

Authentico Index Values

15 Micron

Close: 3412

Change in %:  +1.76

16 Micron

Close: 2957

Change in %: +1.93

17 Micron

Close: 2577

Change in %: +3.54

18 Micron

Close: 2200

Change in %: +3.14

19 Micron

Close: 1822

Change in %: +1.67

Authentico Indicator

Close: 2548

Change in %: +2.70

Forecast

Sales will be held on Wednesday and Thursday next week with Monday being a public holiday in the eastern states. According to AWEX figures, the ‘grower first- hand’ bales offered up to week 50 in the 2020 season is 22% more than the first-hand bales offered to the same period in the 2019 season. No doubt the recent market performance has helped to clear a large percentage of the grower held stock. While there still appears to be a good supply of samples on the show floor that are representing bales awaiting sale, we understand from the brokers that a lot of this is crossbred types which are still struggling to sell under subdued global demand, particularly for the inferior types. These bales are unlikely to be offered until we see the market improve in that sector.

Auction offering – current week

Market          Sale         Offered        Sold       Passed In

North                      S 50                  12705                 12249               3.6%

South                     M 50                 23583                 22562               4.3%

West                       F 50                   no sale

Auction offering – next week

Market          Sale          Sale days          Volume

North                      S 51                     W-T                             13182

South                     M 51                     W-T                            21635

West                       F 51                      W-T                            10524

 

If you want to see the complete Wool Sales Roster click here.